Pakistan races to secure Petrol stocks as Iran–US war raises alarm in global oil markets

2026-02-28 - 14:54

ISLAMABAD – As the world watches historic tensions in Middle East as Israel, and United States attacked Iran, sending ripples through global energy markets. In swift and dramatic response, Pakistan issued an emergency alert aimed at shielding the nation’s petroleum reserves from potential disruptions. Sources confirm that Ministry of Energy ordered immediate action, directing Oil and Gas Regulatory Authority to move with urgency. The mandate is clear, with guarantee of ample stocks of petrol, diesel, and LPG, while imposing strict oversight on crude oil and petroleum imports. Officials warn that the Gulf crisis could threaten supply chains, prompting energy ministry to accelerate contingency measures and demand rapid compliance reports. A directive from the Director General Oil has already reached all oil marketing companies, signaling heightened scrutiny and operational readiness. Despite global uncertainty, OGRA spokesperson Imran Ghaznavi reassured the public, stating that sufficient petroleum stock remains available. However, authorities continue to monitor the situation closely, emphasizing that preparedness is key in an era of mounting geopolitical volatility. A dramatic military escalation has rocked the Middle East as the United States and Israel reportedly launched coordinated strikes inside Iran, including areas near the capital of Tehran. Explosions were said to have rattled major cities, sending shockwaves through global markets and fueling fears of a wider regional conflict. Israel declared a state of emergency and grounded flights as witnesses described scenes of smoke and chaos. Analysts warn the assault could ignite a surge in oil prices and economic instability, particularly if tensions disrupt shipping routes through the Strait of Hormuz, a lifeline for global energy supplies. The strikes follow months of mounting geopolitical friction and failed diplomacy between Washington and Tehran. Officials citing security and human rights concerns, including statements linked to former U.S. leadership under Donald Trump, framed the operation as necessary, though critics warn of unpredictable consequences. With markets poised for volatility and the region on high alert, the world watches closely as this fast-moving crisis unfolds. Iran launches missile strikes as US-Israel commence major ‘regime change’ operation